Veeva Systems Inc. (NYSE:VEEV) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd grew its holdings in Veeva Systems Inc. (NYSE:VEEV) by 171.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,798 shares of the technology company’s stock after buying an additional 15,655 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Veeva Systems were worth $5,214,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of VEEV. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Veeva Systems by 72.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company’s stock valued at $25,000 after purchasing an additional 50 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Veeva Systems during the 4th quarter valued at approximately $25,000. True Wealth Design LLC lifted its position in shares of Veeva Systems by 3,375.0% during the 3rd quarter. True Wealth Design LLC now owns 139 shares of the technology company’s stock valued at $29,000 after acquiring an additional 135 shares during the period. Avion Wealth lifted its position in shares of Veeva Systems by 635.0% during the 4th quarter. Avion Wealth now owns 147 shares of the technology company’s stock valued at $30,000 after acquiring an additional 127 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new position in Veeva Systems during the fourth quarter worth $31,000. 88.20% of the stock is owned by institutional investors and hedge funds.

Veeva Systems Price Performance

Shares of NYSE VEEV opened at $226.10 on Monday. Veeva Systems Inc. has a 1-year low of $170.25 and a 1-year high of $258.93. The business has a 50-day moving average of $223.76 and a 200-day moving average of $217.86. The company has a market capitalization of $36.71 billion, a price-to-earnings ratio of 55.83, a PEG ratio of 1.89 and a beta of 0.85.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group cut Veeva Systems from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $261.00 to $200.00 in a report on Thursday, January 23rd. Piper Sandler lifted their price target on Veeva Systems from $280.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Stifel Nicolaus lifted their target price on shares of Veeva Systems from $240.00 to $272.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Veeva Systems from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Barclays upped their target price on Veeva Systems from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $255.08.

Insiders Place Their Bets

In other news, SVP Jonathan Faddis sold 1,694 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.50% of the stock is owned by company insiders.

About Veeva Systems

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.